a sum of rs X was lent at 10% p.a. for 4 years , interest compoundedannually if the differemves between the compound interest for the fourth year and the third year is rs 847 , then what is the value of x

Answers 2

Answer:

Use the edit icon to pin, add or delete clips.Use the edit icon to pin, add or delete clips.

Answer:

70,000

given,

principal = X

rate = 10%

time= 4 year

r = 847

difference between the compound interest for the fourth year and the third year=  847

to find,

principal

solution,

compound interest = P (1 + R/100)ⁿ ; n = time

according to the question,

[ci 4year- ci 3year] - [ci 3year - ci 2year] = 847

X (1+10/100)⁴ - X (1+10/100)³ - [ X (1+10/100)³ - X (1+10/100)²] = 847

X  [( 11/10 )⁴- (11/10)³- (11/10)³+ (11/10)²] = 847

X (1.4641- 1.331 - 1.331 + 1.21 ) = 847

X (0.0121) = 847

X = 70,000

therefore, the principal is 70,000.

#SPJ2

If you know the answer add it here!

Can't find the answer?

Log in with Google

or

Forgot your password?

I don't have an account, and I want to Register

Choose a language and a region
How much to ban the user?
1 hour 1 day 100 years